George Foundation Inc
- Assets
- $16.7m
- Revenue
- $6.1m
- Investments
- $14.8m
- Employees
- 0
- Location
- Hickory, NC
- Founding
- 12/1980
- Data as of
- 11/2021
- EIN
- 56-1282417
Organization Overview
George Foundation Inc is located in Hickory, NC. The organization was established in 1980. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. George Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 11/2021, George Foundation Inc generated $6.1m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.3m during the year ending 11/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, George Foundation Inc has awarded 119 individual grants totaling $1,946,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Boyd L George Chairman | 0 | $0 | |
John B Orgain Secretary | 0 | $0 | |
Frederick D Mcclure Director | 0 | $0 | |
Kimberly D George President | 0 | $0 | |
Joyce George Corbett Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $188,751 |
| Interest on Savings | $0 |
| Dividends & Interest | $340,456 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,544,511 |
| Capital Gain Net Income | $5,544,511 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,073,718 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $81,100 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $500 |
| Total operating and administrative expenses | $178,648 |
| Contributions, gifts, grants paid | $1,133,500 |
| Total expenses and disbursements | $1,312,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,907,696 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $1,075 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $16,686,631 |
| Accounts payable and accrued expenses | $67,777 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $67,777 |
Grants Awarded
Over the last fiscal year, George Foundation Inc has awarded $1,133,500 in support to 56 organizations.
| Grant Recipient | Amount |
|---|---|
Winston Salem, NC PURPOSE: GENERAL SUPPORT | $200,000 |
Hickory, NC PURPOSE: GENERAL SUPPORT | $200,000 |
CAROLINA THREAD TRAIL PURPOSE: GENERAL SUPPORT | $100,000 |
HICKORY COMMUNITY THEATRE PURPOSE: GENERAL SUPPORT | $75,000 |
HICKORY MUSEUM OF ART PURPOSE: GENERAL SUPPORT | $50,000 |
CVCC FOUNDATION INC PURPOSE: GENERAL SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |
Edward C And Linda Dresner Levy Foundation Reston, VA | $6,482,787 | $4,609,179 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |